Proposing a constitutional amendment to authorize the legislature to provide for a one-time credit against the ad valorem taxes imposed by a political subdivision on the first property that a person purchases and qualifies as the person's residence homestead and to provide for the reimbursement of political subdivisions for the revenue loss incurred as a result of the credit.

HJR 209 is a proposed constitutional amendment (not a law) that, if approved by voters in 2025, would allow Texas lawmakers to create a one-time property tax credit for first-time homebuyers. The credit would reduce ad valorem taxes (property taxes) on a person's first home that qualifies as their primary residence, capped at $3,000 or half the tax amount owed to the local government. Local governments would be reimbursed by the state for lost tax revenue from this credit. This amendment requires voter approval and does not currently change any tax rules.